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China’s SAIC Motor to build $870M second plant in Thailand

The venture, SAIC-CP Motor, is currently building its second plant in the country southeast of Bangkok, and is reportedly spending more than 30 billion baht ($870 million).

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BANGKOK — SAIC Motor is planning to ship vehicles from Thailand to other parts of Southeast Asia and beyond, following in the footsteps walked decades ago by Japanese automakers.

The major Chinese carmaker has been manufacturing MG-brand vehicles in Thailand through a joint venture with local conglomerate Charoen Pokphand Group.

The venture, SAIC-CP Motor, is currently building its second plant in the country southeast of Bangkok, and is reportedly spending more than 30 billion baht ($870 million).

The facility, which is slated to open as soon as next year with an annual output capacity of 200,000 units, will be used for exports, said MG Sales (Thailand) Vice President Pongsak Lertrudeewattanavong. Pongsak has indicated to local news outlets that the business strategy for the new plant will be announced around October.

SAIC-CP Motor is now making the MG3 subcompact hatchback, MG GS sport utility vehicle and two other models.

It plans to add two more models by the end of the year, including a multipurpose vehicle. As the lineup expands, the brand’s dealership network in Thailand will increase about 50% to 90 locations by the end of the year.

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Investment

Thailand’s H1 Investment Applications rise 158% in combined value, BOI says

Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.

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In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.

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Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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